With the help from Apple, Nike is transforming into a tech company
“Nike, the world’s largest sports gear company, is gradually morphing into something else,” Suzanne O’Halloran writes for Yahoo Finance.
O’Halloran writes, “‘I think of Nike just as much as a tech company as they are an apparel company,’ observes Christine Short of Estimize, who expects to hear more progress on partnerships, including one with Apple, when Nike reports earnings Thursday. ‘They are really just re-positioning themselves to move into the space of wearable technology and smart apparel.'”
“Earlier this month, Nike expanded its global partnerships with companies including Garmin Ltd. and TomTom to offer runners more ways to map their progress using technology,” O’Halloran writes. “On Thursday analysts are eager to hear how, if at all, Nike works itself into Apple Watch.”
